VENTURE CAPITAL POST

The largest banks in Europe, such as Santander, BNP Paribas, and Deutsche Bank, are set to report their earnings for the second quarter of 2024 this week following the announcement from the European Central Bank that it would not change its interest rates.

The European Central Bank announced that it would keep interest rates unchanged but may change by the next quarter.

The European Commission has re-elected its president, Ursula von der Leyen, for another five-year term. The continent is facing crises ranging from the war in Ukraine to climate change to migration to economic issues.

Polish Foreign Minister Radoslaw Sikorski announced that it was planning to spend 5% of its gross domestic product on defense by 2025.

France’s snap general election revealed an unexpectedly strong second round result from the New Popular Front, a coalition of left-wing parties.

The European Commission released a preliminary ruling that found Apple violating the European Digital Markets Act.

China and the European Union (EU) have agreed to negotiate on proposed tariffs on Chinese EVs amid ongoing tensions.

Meta Platforms has postponed the European launch of its AI models after the Irish privacy regulator advised against using data from Facebook and Instagram users.

The Norwegian Consumer Council has filed a complaint against Meta over its plans to use the images and posts of users on Facebook and Instagram to train artificial intelligence (AI) models.

The leaders of the Group of Seven, the world’s wealthiest nations, have agreed to create a $50 billion loan to help Ukraine in its fight to survive Russia’s onslaught, with interest earned on profits from Russia’s frozen central bank assets used as collateral.

EU will impose tariffs on Chinese EVs, following the footsteps of the US, but EU automakers fear retaliatory measures that will impact stocks.

The European Union is considering sanctions against Russia's Sovcomflot PJSC, a major oil-shipping company, aiming to curtail the Kremlin's financial support for its military actions in Ukraine.

Volvo has reportedly started moving production of EVs to Belgium in anticipation of the European Union's impending taxes on China-made cars.

The Chinese e-commerce company Alibaba has been fast-tracking its global expansion by launching its ‘Alibaba Guaranteed’ service that would be aiming to target small businesses in the United States and Europe.

Germany said that the European Commission has agreed to compensate power company LEAG with up to$1.90 billion for deciding to move away from coal by 2038.